FOREX TradingCharts.com

Financial News: New Zealand Overall Credit Card Spending Gains 0.2%

New Zealand Overall Credit Card Spending Gains 0.2% In December

01/15/2018 - 17:16:00 (RTTNews)

(RTTNews) - Overall credit card spending in New Zealand picked up a seasonally adjusted 0.5 percent on month in December, Statistics New Zealand said on Tuesday.

That was shy of expectations for an increase of 0.4 percent following the 1.4 percent gain in November.

Retail credit card spending was up 0.5 percent on month - in line with expectations and down from the 1.2 percent spike in the previous month.

The total was boosted by a 4.0 percent rise in fuel spending.

"The increase in fuel spending was driven by high average fuel prices continuing on from November," retail manager Sue Chapman said.

However, core retail spending, excluding fuel and vehicles, was down 0.2 percent in December, after three consecutive monthly rises.

"The fall in core retail spending was driven by a decrease in spending on clothing and footwear, after a strong increase in November," Chapman said.

Shoppers spent less on clothing and hospitality in December, down NZ$6.8 million (2.2 percent) and NZ$1.3 million (0.1 percent), respectively.

Spending on furniture, hardware, and appliances (durables) remained unchanged in December, after a 1.2 percent rise in November.

Actual retail spending using electronic cards was NZ$6.7 billion in the December 2017 month, up NZ$214 million (3.3 percent) from the December 2016 month.

Retail card spending was up a seasonally adjusted 1.3 percent in the December 2017 quarter after a 0.2 fall in the September 2017 quarter.

"The rise in retail card spending in the December quarter was driven by an increase in consumables and hospitality industries spending," Chapman said.

Spending rose in four of the six retail industries in the December quarter. The largest rises came from the hospitality (up NZ$51 million or 1.8 percent) and consumables industries (up NZ$51 million or 0.9 percent).

Core retail spending (which excludes the vehicle-related industries) rose 0.7 percent in the December 2017 quarter, after a 0.8 percent rise in the September 2017 quarter.

In actual terms, retail card spending was NZ$17.3 billion in the December 2017 quarter, up NZ$505 million (3.0 percent) from the December 2016 quarter.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal Inflation Slows For Second Month (57 min(s), 20 sec(s) ago)
(RTTNews) - Portugal's consumer price inflation eased for the second straight month in January ...Full Story»

Latvia Inflation At 14-Month Low (45 min(s), 20 sec(s) ago)
(RTTNews) - Latvia's consumer price inflation eased for the fifth successive month in January ...Full Story»

OECD Unemployment Rate Falls In December (44 min(s), 20 sec(s) ago)
(RTTNews) - The unemployment rate in the Organization for Economic Cooperation and Development are ...Full Story»

China's Bank Lending At Record High (15 min(s), 20 sec(s) ago)
(RTTNews) - China's banks lent a record amount of new yuan loans in January, data from the Peo ...Full Story»

UK January Household Spending Fall First In 5 Years: Visa Survey (40 min(s), 20 sec(s) ago)
(RTTNews) - UK household spending declined at the start of the year, which was the first January d ...Full Story»

Swiss Inflation Slows In January (53 min(s), 20 sec(s) ago)
(RTTNews) - Switzerland's consumer price inflation slowed in January, data from the Federal St ...Full Story»

Singapore Visitor Arrivals, Tourism Receipts Hit Record Highs In 2017 (42 min(s), 20 sec(s) ago)
(RTTNews) - Singapore's both tourism receipts and visitor arrivals attained record highs for t ...Full Story»

Romania Industrial Production Grows Sharply In December (53 min(s), 20 sec(s) ago)
(RTTNews) - Romania's industrial production expanded markedly at the end of the year, mainly d ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal Inflation Slows For Second Month

02/12/2018 - 06:39 AM (RTTNews)
(RTTNews) - Portugal's consumer price inflation eased for the second straight month in January ...Full Story>>

Latvia Inflation At 14-Month Low

02/12/2018 - 06:27 AM (RTTNews)
(RTTNews) - Latvia's consumer price inflation eased for the fifth successive month in January ...Full Story>>

OECD Unemployment Rate Falls In December

02/12/2018 - 06:26 AM (RTTNews)
(RTTNews) - The unemployment rate in the Organization for Economic Cooperation and Development are ...Full Story>>

China's Bank Lending At Record High

02/12/2018 - 05:57 AM (RTTNews)
(RTTNews) - China's banks lent a record amount of new yuan loans in January, data from the Peo ...Full Story>>

UK January Household Spending Fall First In 5 Years: Visa Survey

02/12/2018 - 04:22 AM (RTTNews)
(RTTNews) - UK household spending declined at the start of the year, which was the first January d ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.